<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Chase Venture Capital Associates, LLC ("CVCA, LLC")
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(Last) (First) (Middle)
c/o Chase Capital Partners
380 Madison Avenue, 12th Floor
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(Street)
New York New York 10017
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Guitar Center, Inc. ("GTRC")
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
January 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
|_| Form filed by one Reporting Person
|X| Form filed by more than one Reporting Person
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ---------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock (FNs 1,2) 3/19/97 C 3,298,680.40 A -0- 4,589,164 D (FN 3)
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Common Stock 6/15/99 C 25,000 A 9.8125 5,108,074 D (FN 3)
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Common Stock 6/15/99 C 474,000 A 9.6250 5,108,074 I (FN 3)
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Common Stock 6/15/99 C 6,000 A 9.7500 5,108,074 I (FN 3)
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Common Stock 6/16/99 C 13,910 A 9.6230 5,108,074 I (FN 3)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 6
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ -------------- Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
8% Junior $6.67 3/19/97 C 494,802 N/A N/A Common 3,298,680.40 -0- I FN 3
Preferrred Stock
Stock
(FN 2)
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Stock Option $4.33 12/30/96 S 207,899 Immed. 12/30/01 Common 207,899 -0- I FN 3
(obligation Stock
to sell)
(FN 4)
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Stock Option $28.5625 5/6/98 A 1,l67 5/6/99 5/6/08 Common 1,667 -0- D FN 5
(right to Stock
purchase)
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Stock Option $28.5625 5/6/98 A 1,666 5/6/00 5/6/08 Common 1,666 -0- D FN 5
(right to Stock
purchase)
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Stock Option $28.5625 5/6/98 A 1,668 5/6/01 5/6/08 Common 1,668 -0- D FN 5
(right to Stock
purchase)
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</TABLE>
Explanation of Responses:
(1) Pursuant to an internal reorganization effective as of January 1, 2000, (i)
Chase Venture Capital Associates, LLC ("CVCA, LLC") became the successor to
Chase Venture Capital Associates, LP ("CVCA, LP"), (ii) CCP-SBIC Manager, LLC, a
newly organized wholly-owned subsidiary of Chase Capital Partners ("CCP"),
became the managing member of CVCA, LLC, and (iii) CCP-CMC Consolidating, LLC
("Consolidating"), a newly-organized affiliate of CCP, became the non-managing
member of CVCA, LLC. CCP is the managing member of Consolidating, and pursuant
to a master advisory agreement with CCP-SBIC and Consolidating, the manager, by
delegation, of CVCA, LLC. Prior to the internal reorganization, CCP was the
general partner, and the sole shareholder of Consolidating was the limited
partner, of CVCA, LP. The internal reorganization changed CVCA, LP's name and
form of organization but did not alter the proportionate interests of its
ultimate security holders.
(2) The amount of securities listed in the first row of Table I reflects the
beneficial ownership of the Issuer's securities owned by CVCA, LLC and gives
effect to the mandatory conversion of all outstanding shares of Guitar Center,
Inc. (the "Company") 8% Junior Preferred Stock, $.01 par value per share
("Preferred Stock"), in connection with an initial public offering and in
accordance with the terms of the Company's Certificate of Incorporation.
Pursuant to such mandatory conversion, each share of Preferred Stock was
converted to 6.667 shares of the Issuer's Common Stock, par value $.01 per
share.
(3) The amounts shown in rows 1 of Table I and II represents the beneficial
ownership of the Issuer's Equity Securities by CVCA, LLC and rows 2 through 5 of
Table I represents the beneficial ownership of the Issuer's securities by Chase
Equity Associates, LLC ("CEA"), a portion of such beneficial ownership may be
deemed attributable to the reporting person because the reporting person is a
general partner of CCP, which is the sole general partner of CVCA, LLC and CEA.
The actual pro rata portion of such beneficial ownership that may be deemed to
be attributable to the reporting person is not readily determinable because it
is subject to several variables, including CVCA, LLC's and CEA's internal rate
of return and vesting of interests.
(4) CVCA, LLC has granted to certain members of the Issuer's management an
option to purchase Common Stock.
(5) The Stock Options were granted to Jeffrey Walker, a General Partner of CCP
and a director of the Issuer. Mr. Walker, who is obligated to transfer any
shares issued under the Stock Options to CVCA, LLC
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Chase Venture Capital Associates, LLC 2/ /2000
-----------------------
** Signature of Reporting Person Date
By: Chase Capital Partners, as Manager
By:
-------------------------------------------
Title: of Chase Capital Partners
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Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 6
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<TABLE>
<CAPTION>
Name and Address Designated Statement Issuer Name, Title of Amount of Ownership Nature of Disclaims
of Reporting Reporter(1) for Ticker Security Securities Form: Indirect Pecuniary
Person month/year or Trading Symbol Beneficially Direct (D) or Beneficial Interest
Owned Indirect (I) Ownership
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Ana Carolina Aidar Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
Rua Verbo Divino,
1400
Sao Paulo,
Brazil, SP
04719-002
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John R. Baron Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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Christopher C. Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Behrens Capital 2000 Inc. ("GTRC") Note 2 below
c/o Chase Capital Associates, LLC
Partners
380 Madison
Avenue 12th Floor
New York, NY 10017
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Mitchell J. Blutt Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison Avenue
12th Floor
New York, NY 10017
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David S. Britts Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
50 California
Street
San Francisco,
CA 94111
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Arnold L. Chavkin Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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David J. Gilbert Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison Avenue
12th Floor
New York, NY
10017
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Eric A. Green Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison Avenue
12th Floor
New York, NY
10017
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Michael R. Hannon Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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</TABLE>
Page 3 of 7
<PAGE>
<TABLE>
<CAPTION>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Donald J. Hofmann Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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Jonathan Meggs Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
125 London Wall
London EC2Y 5AJ,
United Kingdom
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Stephen P. Murray Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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John M.B. O'Connor Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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Bob Rugggiero Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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Susan L. Segal Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY 10017
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Shahan D. Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Soghikian Capital 2000 Inc. ("GTRC") Note 2 below
c/o Chase Capital Associates, LLC
Partners
50 California
Street, Suite
2940
San Francisco, CA
94111
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Lindsay Stuart Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital Capital 2000 Inc. ("GTRC") Note 2 below
Partners Associates, LLC
125 London Wall
London EC2Y 5AJ,
United Kingdom
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Patrick Sullivan Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital 2000 Inc. ("GTRC") Note 2 below
Capital Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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Jeffrey C. Walker Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital 2000 Inc. ("GTRC") Notes 2 and 3
Capital Partners Associates, LLC below
380 Madison
Avenue 12th Floor
New York, NY
10017
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</TABLE>
Page 4 of 7
<PAGE>
<TABLE>
<CAPTION>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Timothy J. Walsh Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital 2000 Inc. ("GTRC") Note 2 below
Capital Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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Richard D. Waters Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital 2000 Inc. ("GTRC") Note 2 below
Capital Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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Damion E. Wicker Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital 2000 Inc. ("GTRC") Note 2 below
Capital Partners Associates, LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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CCP European Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Principals, LLC Capital 2000 Inc. ("GTRC") Note 2 below
c/o Chase Associates, LLC
Capital Partners
380 Madison
Avenue 12th Floor
New York, NY
10017
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CCP Principals, Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
LLC Capital 2000 Inc. ("GTRC") Note 2 below
c/o Chase Associates, LLC
Capital Partners
380 Madison
Avenue 12th Floor
New York, NY
10017
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Chase Capital Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Corporation Capital 2000 Inc. ("GTRC") Note 2 below
c/o Chase Associates, LLC
Capital Partners
380 Madison
Avenue 12th Floor
New York, NY
10017
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The Chase Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Manhattan Capital 2000 Inc. ("GTRC") Note
Corporation Associates, LLC 4 below
270 Park Avenue
35th Floor
New York, NY
10017
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Chase Capital Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Partners Capital 2000 Inc. ("GTRC") Note 5 below
380 Madison Associates, LLC
Avenue 12th Floor
New York, NY
10017
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CCP-SBIC Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Manager, LLC Capital 2000 Inc. ("GTRC") Note 6 below
c/o Chase Associates, LLC
Capital Partners
380 Madison
Avenue
12th Floor
New York, NY
10017
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</TABLE>
Page 5 of 7
<PAGE>
<TABLE>
<CAPTION>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
CCP-CMC Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
Consolidating, Capital 2000 Inc. ("GTRC") Note 7 below
LLC c/o Chase Associates, LLC
Capital Partners
380 Madison
Avenue
New York, NY
10017
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David L. Ferguson Chase Venture January, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital 2000 Inc. ("GTRC") Note 8 below
Capital Partners Associates, LLC
380 Madison
Avenue
12th Floor
New York, NY
10017
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I. Robert Greene Chase Venture January 1, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Flatiron Capital 2000 Inc. ("GTRC") Note 9 below
Partners Associates, LLC
257 Park Avenue
South
New York, NY
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Brian J. Richmand Chase Venture January 1, Guitar Center, Common Stock 5,108,074 I See Explanatory No
c/o Chase Capital 2000 Inc. ("GTRC") Note 10 below
Capital Partners Associates, LLC
380 Madison
Avenue
12th Floor
New York, NY
10017
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Jonas Steinmann Chase Venture January 1, Guitar Center, Common Stock 5,108,074 I See Explanatory Yes
c/o Chase Capital 2000 Inc. ("GTRC") Note 11 below
Capital Partners Associates, LLC
380 Madison
Avenue
12th Floor
New York, NY
10017
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</TABLE>
Explanatory Note:
1) The Designated Reporter is executing this report on behalf of all reporting
persons, each of whom has authorized it to do so.
2) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC and CEA, LLC, a portion of which may
be deemed attributable to the reporting person because the reporting person is a
partner of Chase Capital Partners ("CCP"), which is the sole managing member of
(a) CCP-SBIC Manager, LLC ("CCP-SBIC"), the sole managing member of CVCA, LLC
and (b) CCP-CMC Consolidating, LLC ("Consolidating"), the non-managing member of
CVCA, LLC and the sole member of CEA, LLC. CCP is also the manager, by
delegation, of CVCA, LLC and CEA, LLC, pursuant to an advisory agreement with
CCP-SBIC and Consolidating. The actual pro rata portion of such beneficial
ownership that may be deemed to be attributable to the reporting person is not
readily determinable because it is subject to several variables, including
internal rate of return and vesting of interests within CCP, CVCA, LLC and CEA,
LLC.
3) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC and CEA, LLC, a portion of which may
be deemed attributable to the reporting person because he is a partner of CCP,
the sole managing member of the two members of CVCA, LLC and the manager, by
delegation, of CVCA, LLC and CEA, LLC. The actual pro rata portion of such
beneficial ownership that may be deemed attributable to the reporting person is
not readily determinable because it is subject to several variables, including
the internal rate of return and vesting within CCP, CVCA, LLC and CEA, LLC. The
reporting person is a director of the Issuer.
4) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC and CEA, LLC, a portion of which may
be deemed attributable to the reporting person because it is the sole
stockholder of Chase Capital Corporation, a general partner of CCP, the sole
managing member of the two members of CVCA, LLC and CEA, LLC and the manager, by
delegation, of CVCA, LLC and CEA, LLC. The actual pro rata portion of such
beneficial ownership that may be attributable to the reporting person is not
readily determinable because it is subject to several variables, including the
internal rate of return and vesting of interests within CCP, CVCA, LLC and CEA,
LLC.
5) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because it is the sole managing member of
(a) CCP-SBIC, the sole managing member of CVCA and (b) Consolidating, the
non-managing member of CVCA, LLC and the sole member of CEA, LLC. CCP is also
the manager, by delegation, of CVCA, LLC and CEA, LLC pursuant to an advisory
agreement with CCP-SBIC and Consolidating. The actual pro rata portion of such
Page 6 of 7
<PAGE>
beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting of interests within CCP, CVCA,
LLC and CEA, LLC.
6) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC and CEA, LLC, a portion of which may
be deemed attributable to the reporting person because it is the sole managing
member of CVCA, LLC and the sole member of CEA, LLC. The actual pro rata portion
of such beneficial ownership that may be deemed to be attributable to the
reporting person is not readily determinable because it is subject to several
variables, including the internal rate of return and vesting of interests within
CCP, CVCA, LLC and CEA, LLC.
7) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because it is the sole non-managing member
of CVCA, LLC. The actual pro rata portion of such beneficial ownership that may
be deemed to be attributable to the reporting person is not readily determinable
because it is subject to several variables, including the internal rate of
return and vesting of interests within CCP, CVCA, LLC and CEA, LLC.
8) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC, and the manager, by
delegation, of CVCA, LLC, until June 1, 1997. The actual pro rata portion of
such beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting within CCP, CVCA, LLC and CEA,
LLC.
9) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC and the manager, by
delegation, of CVCA, LLC, until May 31, 1999. The actual pro rata portion of
such beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting within CCP, CVCA, LLC and CEA,
LLC.
10) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC and the manager, by
delegation, of CVCA, LLC, until December 31, 1999. The actual pro rata portion
of such beneficial ownership that may be deemed to be attributable to the
reporting person is not readily determinable because it is subject to several
variables, including the internal rate of return and vesting within CCP, CVCA,
LLC and CEA, LLC.
11) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC, and the manager, by
delegation, of CVCA, LLC, until July 1, 1999. The actual pro rata portion of
such beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting within CCP, CVCA, LLC and CEA,
LLC.
Page 6 of 7
<PAGE>
Page 2 of 2
